Rambus and Eftpos team up to support Apple Pay in Australia
Through integration with Rambus’ token service provider (TSP) technology, the firm says Eftpos is able to support Apple Pay.
Chakib Bouda, CTO of the Rambus Payments Division, says: “This partnership allows more than a million consumers to enjoy secure mobile payments using Apple Pay, leveraging our proven EMV tokenisation software for trusted transactions.”
Eftpos acting CEO, Paul Jennings, adds it has moved from its “traditional card based payment method into mobile, offering our members in Australia the opportunity to benefit from the convenience and security of Apple Pay”.
When customers use Eftpos debit cards with Apple Pay, Rambus says the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique device account number is assigned, encrypted and stored in the secure element on the device. Each transaction is authorised with a one-time unique dynamic security code.